Property Details
About this Property
Located in the desirable Wrigley area of Long Beach, 1960 Cedar Ave. is a well-maintained 11 unit garden style apartment building comprised of (2) 3bd/1bth units, (6) 2bd/1bth units, (2) 1bd/1bth units, (1) studio, and 5 single car garages. Originally built in 1944, and consisting of 7,088 rentable square feet on a large 8,129 square foot lot. The property is separately metered for gas and electricity, and features gated entry, vinyl pane windows, and community laundry. Priced attractively at $236,365 per unit, and $366.82 per SF, 5.34% CAP RATE on current rents, with room to increase rents. Realistic MARKET CAP RATE of 6.75%. An attractive opportunity for a new owner! The property is in an excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 1880 Cedar is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. It also benefits from its optimal location near Willow Street, Pacific Coast Highway, and 405 and 710 freeways, providing residents easy access to employment hubs throughout Southern California. The overall demand for well-located and maintained apartme
MLS Listing Information
MLS #
CRPW24203754
MLS Source
California Regional MLS
Interior Features
Cooling
None
Heating
Wall Furnace
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 5 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 11 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1960 Cedar Ave is a Residential Income in Long Beach, CA 90806. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,600,000 and was built in 1944. This address can also be written as 1960 Cedar Ave, Long Beach, CA 90806.
©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of November 11, 2024. For the most current information, please contact Spencer Pabst
